Chair responds to Chancellor's conference speech

• Treasury Committee

Chair's comments

Responding to the Chancellor's speech at Conservative Party Conference, Rt Hon. Andrew Tyrie MP, Chairman of the Treasury Committee, said:

"The Chancellor has sent the right message in his speech today by ditching the fiscal rule to maintain stability. We've seen numerous rules, targets and guidelines which have been too short term and therefore not worth a great deal.

A longer term rule is essential to achieve economic credibility and to signal to the markets that there is a plan.

On Brexit, the Government must be clear what it wants from negotiations as soon as possible.

It should attempt a pre-negotiation before March to ensure that before Article 50 is triggered, it has a good deal of clarity from its negotiating partners to ensure that they are in a position to agree reasonable terms."

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